Nasdaq's 10-Day Rally Expires
As Dow Industrials Edge Lower

By

Robert O'Brien Dow Jones Newswires

Updated July 18, 1997 12:01 a.m. ET

NEW YORK -- The roaring stock-market rally ended with a whimper Thursday.

Shares of Microsoft rose 1 1/16 to 149 1/2 and reached another 52-week high, but failed to match the fireworks from Wednesday's session, when the stock soared 9 31/32 on Nasdaq. Investors, for one day at least, seemed to suggest they would wait to see an actual earnings report before bidding up the price of a stock. Microsoft's actual numbers, reported after the...